Musk arrives in China and advocates maintaining economic ties with the US.

First modification: 05/30/2023 – 20:00

Tycoon Elon Musk’s visit to China is just one of many powerful US executives who have risen to power since he reopened his borders and reversed his ‘zero Covid’ policy in December.

Tim Cook, CEO of tech giant Apple, visited the country in March, while Jamie Dimon, the chief executive of JP Morgan and Starbucks’ Laxman Narasimhan are also visiting China this week.

The arrival of top executives in Beijing is seen by many as a balm for the deteriorating diplomatic relations between the world’s two largest economies. In fact, Musk’s arrival came hand in hand with a message tinged with politics.

“We must step on the brakes in time, avoid dangerous driving and be skillful in using the accelerator to promote win-win cooperation,” Chinese Foreign Minister Qin Gang said after the meeting with Musk.

The official quoted Tesla as saying he was opposed to a decoupling of the US and Chinese economies, adding that the Tesla owner described the two nations’ relationship as “joined twins.”

Investors keep a close eye on Musk’s moves in China

This Tuesday, May 30, is Elon Musk’s first trip to China since 2020 and it comes at a time when Tesla is witnessing the notable increase in competition from Chinese automakers.

Investors in the US luxury manufacturer have navigated some uncertainty about expansion plans for the Shanghai plant, Tesla’s largest production center, in operation since 2019 and where Tesla’s first “gigafactory” outside the United States operates. States, with a production of more than 710,000 vehicles in 2022.

In that sense, the visit could shed clues as to whether and by how much the electric car company will increase its production in Shanghai.

With Reuters and EFE